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Australia: Shares stage biggest rally in a month on upbeat jobs data

Australian shares rose the most in a month on Thursday as better-than-expected jobs data encouraged investors to shrug off dwindling chances of an imminent rate cut to buy blue-chip yield stocks.

PHOTO: REUTERS

[SYDNEY] Australian shares rose the most in a month on Thursday as better-than-expected jobs data encouraged investors to shrug off dwindling chances of an imminent rate cut to buy blue-chip yield stocks.

After falling slightly at the open, the S&P/ASX 200 index recovered following the mid-morning data release to close up 1 per cent or 57.0 points at 5850.2, its biggest one-day advance since Feb 13.